They can at this time simply pass a CR that goes through say February and fight it out then with more of their own people.
I think it is likely that the pressure on President Obama to actually sign such a CR would be considerably less in February.
Loosening restrictions on the type derivative trading that caused the Banks to be bailed out not more than a couple years ago so that they can bet again with gusto and not fear that the government doesn't have their back is a bit more than a bit of "pork".
I call it being sold out.
Sorry you feel that way. The change in the derivative rules in many instances are actually progressive. Under the current law, FDIC insured banks are able to purchase asset back securities issued by GNMA, Sallie Mae, Fannie Mae and Freddie Mac. Unfortunately for us, GNMA, Sallie Mae, Fannie Mae and Freddie Mac were some of the worst actors in the subprime asset backed security crash. Do you want to insure banks that purchase securities that are deemed by most in the market to be both overvalued (that is too expensive for what you get) and an extreme credit risk? I don't.
Under current law, local banks were unable to hedge against geographic risk, a particular problem in places subject to large natural disasters like Southern Florida and the Gulf Coast. Without an appropriate hedge, when large disasters hit these areas, the local banks simply fail and the FDIC has to come in a pay off the insured deposits. With an appropriate hedge, more banks are able to withstand such events.
There are other examples, but I'm not sure you'd be persuaded that allowing banks to hold credit default swaps is a good thing, even if, such swaps played a key role in reducing interests and expanding homeownership.
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If this was about "getting stuff done" they would pass a budget and do so without selling us out to their special interest friends, they wouldn't be making sweetheart deals for derivatives traders and exempting Blue Cross from obeying the dictates of the ACA that actually require them to spend money on patient care. They wouldn't be expanding private donations to political campaigns so that they can be even dirtier than before.[/QUOTE]
1. The only "sweetheart deal" I can see in the CR for derivatives traders is the ability to sell certain derivative products to covered institutions off a registered exchange. Not sure there's any meat to that, and it is counterbalanced by the creditworthiness and other requirements.
2. Blue Cross? Didn't see that, but is that any different than the Cornhusker Compromise that enabled the ACA to be passed in the first place? Seriously, if you have a citation, I'd appreciate it.
3. Which would you rather have, private citizens who choose to fund a political party's national convention or the government? After Citizens United, it is likely that campaign contribution limits are unconstitutional content based infringements of free speech. So the "big money donors" would still be able to donate that money to the candidate(s) of their choice, so to my mind the "big money" influence is a sunk cost, may as well reduce the burden on the taxpayers by letting them pay for the conventions.